Sending Docs Checklist for Business Entity Tax Returns
The quality of your business tax return and the timeliness of its preparation depend strongly on obtaining all your tax-related documents and information. Therefore, we have created the following checklist for tax and financial records, including our secure Small Business digital forms.
Tax Docs
We will need the following:
General
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Engagement agreement
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Prior Year Tax Returns (unless we prepared them)
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1099s from Banks, Investment Brokers, Government Agencies, Contract work, etc.
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Financial Information
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1099s, or Profit/Loss Statement
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Business Expenses
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Common Expenses
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Accountable Plan Expenses (home office, cell, miles)​
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401k / SEP Employer Contributions
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Copies of 1099s that you filed for vendors and suppliers*
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Balance Sheet (if you use formalized accounting), or​
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12/31/23 Business Checking Account Balance
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General Ledger (if you use formalized accounting)
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Payroll Details (unless we process payroll)
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W-2s for All Employees and Owners, plus W-3​
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Payroll Details Report for the Entire Year
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Estimated Tax Payments for the Business (if applicable)​
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* If you do not provide copies of 1099s that you filed and sent to vendors and suppliers, we will assume you were not required to do so (unless CG CPA filed them for you).
Business Entity Tax and Financial Records
Small Business Operations and Financial Data Worksheet
All small business owners operating sole proprietorships or as a separate business entity (partnership, corporation, etc.) need to complete this worksheet, or at least use it in conjunction with financial statements and the like.
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The Small Business Operations Worksheet is available here:
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https://www.cognitoforms.com/ClaudioGilCPA/SmallBusinessOperations
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Financial Documents are Not in Good Order
At times, the financial documents that are supplied to us cannot be translated into an accurate business tax return. If we believe the information is not in good order, will will chat with you and attempt to do the following:
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Obtain additional clarity and carry on with a nice tax return for your review
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Ask you to synthesize your financial information and documentation into the Small Business Operations secure digital worksheet
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Work out an accounting services engagement to re-work the data into useable financial statements. We do not take this lightly since it costs additional money above tax preparation.
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We don't expect financial documents to be perfect. We work with a huge variety of formats, from bar napkins to audited financial statements. However, there are times where the financial documents we receive cannot be translated into an accurate business tax return. We also fear that you might not be taking advantage of all the allowed deductions. And, if your financial documents are not in good order, it would not properly support the tax return in the event of an IRS audit or challenge.
How to Send Your Tax Documents
We offer worldwide tax preparation services, and communication is key to success. Your comfort in sending sensitive information is our top priority. For your immediate convenience and to keep things running smoothly, we offer only one way to securely send your tax documents to us:
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Canopy Tax
Since 2023, we've used Canopy Tax for secure online document exchange. You can upload your tax documents directly to our office. This method saves times and resources as more companies provide electronic year-end tax statements. Canopy Tax will also electronically deliver your tax returns for review before eFiling.
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Note on Scanning: If possible, create and submit a PDF for each tax document. This helps us organize your files in your electronic tax binder. Most operating systems have a PDF printer. If not, search for free PDF printers like Cute PDF. It lets you print anything to a PDF file, which is handy for dynamic websites where direct saving isn't possible.
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We apologize for those that are uncomfortable with online portals. We are a fully virtual firm, and it is important that we meet our clients where we can and our clients meet us in the same way. Please don't hesitate to reach out if you have questions or concerns!
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Let Us Know
When you're done sending documents, email us at cgil@claudiogilcpa.com with "Good to go" or call (714) 867-7288. We love hearing from you--share stories, weather updates, tax questions, anything!
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If you're waiting on one last document, send what you have. We'll prepare a preliminary tax return and add the final document later.
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Growing Pains
We're constantly improving our processes. Each year, we tweak our procedures based on your feedback. If something isn't working, contact Claudio Gil directly. We'll stop, listen, and work to resolve the issue. If we mess up, we want to know and fix it immediately.
In Closing
If you have any questions, please contact us using one of the methods below. Thanks for your time--we look forward to working with you!
Address
1100 W. Town and Country Rd, Ste 1250,
Orange CA 92868
Phone
714-867-7288